Horizon Kinetics Asset Management LLC reported a nominal purchase of Texas Pacific Land Corp (NYSE: TPL) stock, acquiring one share at a price of $507.39 on February 26, 2026, a transaction the firm valued at $507. The trade was disclosed in a Form 4 filing with the Securities and Exchange Commission and was signed by Jay Kesslen, attorney-in-fact, on February 27, 2026.
The filing indicates the buy increased Horizon Kinetics Asset Management LLC’s direct ownership in Texas Pacific Land to 3,479,381 shares. The paperwork formally records the transaction and the resulting shareholding figure, reflecting the firm's reported position following the purchase.
TPL shares have shown significant momentum year-to-date, climbing 78% and trading near a 52-week high of $547.20. That price performance coincides with recent corporate results and analyst activity that have drawn heightened investor attention to the company’s surface acreage opportunities.
On the earnings front, Texas Pacific Land Corporation reported fourth-quarter 2025 results that fell short of consensus estimates. The company posted earnings per share of $1.79 versus a forecast of $1.83, and quarterly revenue of $212 million compared with an anticipated $214 million. Those results were recorded alongside commentary from the research community that ties future upside to developments on the company’s acreage.
KeyBanc moved to raise its price target for Texas Pacific Land to $639 from $350 while maintaining an Overweight rating. The firm attributed the adjustment to meaningful developments in power generation and data center prospects across the company’s surface acreage. KeyBanc analyst Tim Rezvan also pointed to favorable trends within Texas Pacific Land’s water segment.
KeyBanc additionally noted a pronounced increase in investor inquiries, with interest coming from long-only investors, traditional long/short funds, and generalist investors. Those observations underscore growing market attention to multiple parts of Texas Pacific Land’s business.
While the Horizon Kinetics transaction recorded a single share, the Form 4 confirms the firm's existing sizeable direct ownership. The company’s recent quarterly misses and the analyst re-rating together paint a mixed but closely watched picture of Texas Pacific Land’s near-term performance and longer-term opportunity set.